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Issues in the Unification of Financial Sector Supervision

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Author Info

  • Richard K. Abrams
  • Michael Taylor

Abstract

The paper considers the generic arguments for and against the creation of a unified regulatory agency, covering each of the main types of financial institutions (banks, insurers and securities firms). The strongest arguments for unification are the enhanced oversight of financial conglomerates and the economies of scale they can potentially deliver. However, there are also a number of potentially serious disadvantages to unification, especially the risk that the change process will be mismanaged and will result in a reduction in regulatory capacity. The issue requires careful deliberation and ultimately depends on a matrix of factors which vary in importance from country to country.

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File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=3939
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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 00/213.

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Length: 32
Date of creation: 01 Dec 2000
Date of revision:
Handle: RePEc:imf:imfwpa:00/213

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Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
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Web page: http://www.imf.org/external/pubind.htm
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Related research

Keywords: Financial sector; Bank supervision; banking; banking supervision; prudential regulation; financial intermediaries; securities regulation; supervisory agency; supervisory authorities; enforcement powers; supervisory agencies; financial sector supervision; securities markets; supervisory bodies; financial sector supervisors; supervisory authority; securities firms; supervisory body; consolidated supervision; universal banking; accounting standards; regulatory authority; international cooperation; bank for international settlements; banking sector; central banking; prudential supervision; banking publications; regulatory bodies; banking supervisor; banking model; bank failures; banking supervisors; capital adequacy; securities sectors; capital adequacy directive; banking activities; bank regulation; regulatory requirements; legal entity; bank failure; legal entities; financial regulation; international standards; bank policy; market integrity; financial soundness; share information; securities regulators; financial claims; supervisory frameworks; internal organization; bank supervisors; regulatory objective; financial sector regulation; securities activities; bank guarantee; insurance business; payment system; bankers;

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